Market Commentary from April 2020

This was a flat week, but that was good for the miners. The longer gold is over $1700, the more cash flow producers accumulate. This is why the HUI closed at 277 today. Balance sheets are improving. The average gold producer has all-in costs around $1200 to $1300. So, free cash flow is up significantly...  more

Gold had a good week, although not a great close. The spot price closed over $1715 yesterday, but was down $32 today to $1684. The futures price is currently at $1695. The futures price has been over $1750 most of the week, but was beaten down today on Friday. Funny how that happens. The HUI traded over 250 this week for the first time since February, and you have to go back to 2016 since we had another close over 250...  more

The gold price below shows $1685. That is from Kitco's website. However, the price at PM websites, such as APMEX.com, is $1703. And the future's price on Investing.com is $1752. I think we can consider the weekly close over $1700. That's the first time that has happened since 2011. The odds are now getting better that we will make a run at a new high above $1935...  more

Gold remained strong this week and closed around $1645. The Kitco chart shows $1617 below, but Investing.com shows $1645, which I think is more accurate. One thing we know, gold currently has a bid for physical. I don't think we will go below $1450 in the near term, although the low $1500s could easily occur with some bankster beatdowns...  more